ICICI Emarald card, LTF possible?

[sangalaviral]

Hi everyone,

I reached out to my RM for ICICI emarald LTF but they are refusing. What is the criteria for it to be LTF? I am currently holding Saphirro LTF from past 2 years.

Thanks

 

[CreditCardEnthusiast]

I do not know if Global Private banking or Private Banking are 2 diff products. In the netbanking, it says Private Banking.

I guess Both are same. Previously it was named GPC i.e Global Private Clients and now it is called PBG i.e Private Banking Group.

 

[CreditCardEnthusiast]

I do not know if Global Private banking or Private Banking are 2 diff products. In the netbanking, it says Private Banking.

Also you got it at very less initial deposit and Mab which is great. I can't even get my account upgraded to Wealth management as they are asking for 25 Lakh TRV as it needs to be upgraded.

 

[sangalaviral]

I got wealth at 5L in 2022 along with saphirro LTF

 

[Bodhi]

I do not know if Global Private banking or Private Banking are 2 diff products. In the netbanking, it says Private Banking.

Is it like Wealth Management account, where there is no risk of downgrade?

 

[Bodhi]

I got wealth at 5L in 2022 along with saphirro LTF

Which city?

 

[CreditCardEnthusiast]

I got wealth at 5L in 2022 along with saphirro LTF

Saphirro LTF in 5L is also very rare. They are asking 50 Lac + for LTF Saphirro. I have LTF Rubbyx currently.

 

[sangalaviral]

Sorry it was in 2021. I am from Noida. This evening I had a word with RM and she was like if you have cordial relationship with RM then NRV won't matter.

 

[cpkalariya]

Out of sheer curiosity -- why would you/anyone keep such a large amount in Bank, instead of liquid funds or property assets?

You are right. Returns on such investment is far better than all rewards we get from credit card.

 

[Bhagat Singh]

Exactly! Yesterday I lashed out at my pbg RM as she would parrot out the 2Cr criteria. I told her point blank that your card value is not even 2k and you dream of 2Cr criteria.

how much are you maintaining in private banking??

how much was initial deposit for onboarding?

i talked to a executive few months back. he was giving private banking for 10 lakhs intital deposit. but said will have to maintain 1 cr nrv in FD or mutual funds etc.

 

[rj_arora]

Out of sheer curiosity -- why would you/anyone keep such a large amount in Bank, instead of liquid funds or property assets?

Emergency funds
Asset allocation in fixed assets
property assets are illiquid
debt mutual funds don't have any indexation benefits now, thanks to this great government

 

[sangalaviral]

+Even liquid funds sometimes takes upto 2-3 days to reach your bank account.
Folks who have Net worth of 10-15Cr on family level usually park that much amount in bank account in FDs.

 

[saucy]

+Even liquid funds sometimes takes upto 2-3 days to reach your bank account.
Folks who have Net worth of 10-15Cr on family level usually park that much amount in bank account in FDs.

Emergency funds
Asset allocation in fixed assets
property assets are illiquid
debt mutual funds don't have any indexation benefits now, thanks to this great government

Is it possible to withdraw >50L funds from the bank within one day (short notice)?

 

[Thomas Shelby]

Is it possible to withdraw >50L funds from the bank within one day (short notice)?

Possible if you have good relationship with bank officials